ATRCAtriCure, Inc.
Surgical & Medical Instruments & Apparatus
- Revenue
- $535M
- 15% YoY
- Operating margin
- -1.8%
- 79% YoY
- EBITDA
- $3M
- 109% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -43.3×
- −$114M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear8% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear35% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $274M | $330M | $399M | $465M | $535M | 15% |
| Operating income | $55M | −$43M | −$27M | −$40M | −$9M | 76% |
| Net income | $50M | −$46M | −$30M | −$45M | −$11M | 74% |
| Operating cash flow | −$14M | −$22M | $4M | $12M | $57M | 370% |
| Capex | $10M | $17M | $12M | $11M | $9M | 21% |
| Stock-based comp | $28M | $29M | $36M | $40M | $45M | 11% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $760K · 3
- Net
- −$760K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $9M | $15M | 71 | 81 |
| FY2024 | $11M | $7M | 55 | 66 |
| FY2023 | $9M | $5M | 64 | 68 |
| FY2022 | $8M | $248K | 80 | 68 |
| FY2021 | $8M | $13M | 125 | 90 |